Insider Selling: Toast, Inc. (NYSE:TOST) General Counsel Sells 300,000 Shares of Stock

Toast, Inc. (NYSE:TOST - Get Free Report) General Counsel Brian R. Elworthy sold 300,000 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $42.60, for a total value of $12,780,000.00. Following the completion of the sale, the general counsel now owns 216,156 shares of the company's stock, valued at $9,208,245.60. The trade was a 58.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Toast Stock Up 2.4%

NYSE:TOST traded up $1.01 during midday trading on Friday, hitting $43.83. The stock had a trading volume of 2,771,849 shares, compared to its average volume of 7,063,658. Toast, Inc. has a one year low of $21.32 and a one year high of $45.56. The company has a market capitalization of $21.83 billion, a price-to-earnings ratio of -4,380.92, a PEG ratio of 2.16 and a beta of 2.02. The stock has a 50-day moving average of $37.77 and a 200 day moving average of $38.04.

Wall Street Analyst Weigh In

Several research analysts have weighed in on TOST shares. Wolfe Research upgraded Toast from a "peer perform" rating to an "outperform" rating and set a $44.00 price target for the company in a research note on Wednesday, April 23rd. Piper Sandler raised their target price on shares of Toast from $35.00 to $37.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Canaccord Genuity Group boosted their price target on shares of Toast from $43.00 to $48.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. increased their price objective on shares of Toast from $36.00 to $42.00 and gave the company a "neutral" rating in a report on Thursday, February 20th. Finally, Keefe, Bruyette & Woods lifted their target price on Toast from $40.00 to $42.00 and gave the stock a "market perform" rating in a report on Thursday, February 20th. Twelve analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Toast presently has a consensus rating of "Moderate Buy" and an average target price of $41.21.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TOST. Vanguard Group Inc. boosted its stake in Toast by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 43,945,584 shares of the company's stock worth $1,457,675,000 after purchasing an additional 1,471,352 shares in the last quarter. Capital International Investors lifted its stake in shares of Toast by 1.9% in the 4th quarter. Capital International Investors now owns 41,961,233 shares of the company's stock valued at $1,529,657,000 after purchasing an additional 785,641 shares during the last quarter. FMR LLC grew its position in Toast by 22.1% in the 4th quarter. FMR LLC now owns 29,853,639 shares of the company's stock valued at $1,088,165,000 after acquiring an additional 5,403,896 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Toast by 17.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 23,454,209 shares of the company's stock valued at $777,978,000 after buying an additional 3,490,686 shares during the period. Finally, T. Rowe Price Investment Management Inc. increased its holdings in shares of Toast by 7.5% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 15,520,360 shares of the company's stock valued at $514,811,000 after acquiring an additional 1,082,958 shares during the last quarter. 82.91% of the stock is currently owned by institutional investors.

About Toast

Toast, Inc operates a cloud-based digital technology platform for the restaurant industry in the United States, Ireland, and India. The company offers software products for restaurant operations and point of sale, such as Toast POS, Toast now, multi-location management, kitchen display system, Toast mobile order and pay, Toast catering and events, Toast invoicing, Toast tables, and restaurant retail; and hardware products, including Toast flex, Toast flex for guest, Toast go 2, Toast tap, kiosks, and Delphi by Toast.